Johnson & Johnson COVID-19 vaccine. Source: Chicago Tribune

Back in November it was uncertain whether big pharma could develop a vaccine to combat the coronavirus. Today at least four firms have garnered Emergency Use Authorization (“EUA”) for a vaccine, and Novavax (NVAX) could be weeks away from approval. The COVID-19 game board is rapidly changing. Moderna (MRNA) and Pfizer (PFE) were first to market, and have racked up impressive supply deals. Johnson & Johnson (JNJ) received EUA for its vaccine a few weeks ago.

A late stage clinical trial showed that Johnson & Johnson’s single-shot vaccine was 66% effective in preventing moderate-to-severe COVID-19. JNJ’s efficacy was far below the 94%-95% demonstrated by vaccines from Moderna and Pfizer. However, the feverish deal activity generated by JNJ suggests its vaccine could threaten competitors. In my opinion, Novavax and Moderna are particularly vulnerable. I look for those stocks to head lower. Read more:


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